January 26, 2022

Menicon Co., Ltd.

President and CEO: Hidenari Tanaka

Securities Code: 7780

TSE, 1st section, NSE, 1st section

Contact:

Motonari Watanabe

Senior Executive Officer,

Corporate Management, CFO

Phone:+81-52-935-1646

Notice of transfer of specified subsidiary

Menicon Co., Ltd. ("the Company") hereby announces that the meeting of the board of directors held on January 26, 2022 decided to carry out a capital increase for Menicon Malaysia Sdn. Bhd which is the Company's wholly owned subsidiary. As a result of the capital increase, Menicon Malaysia Sdn. Bhd will become a specified subsidiary of the Company.

1. Reason for transfer to specified subsidiary

As a result of this capital increase, the capital amount of Menicon Malaysia Sdn. Bhd will be equivalent to 10% or more of the Company's capital, making it a specified subsidiary of the Company. The purpose of this capital increase is to strengthen the production facilities for the daily disposable contact lenses.

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2. Overview of the subsidiary (specified subsidiary) to be transferred

(1)

Name

Menicon Malaysia Sdn. Bhd.

(2) Address

51-21-A Menara BHL Bank, Jalan Sultan Ahmad Shah,

10050 Penang, Malaysia

(3)

Name and title of

Managing Director: Koji Kawaura

representative

(4)

Description of business

Manufacture of contact lenses

(5)

Capital

17,000 thousand MYR (448 million yen*1, *2)

(before transfer)

(6)

Date of established

March 9, 2021

(7)

Major shareholders and

Menicon Co., Ltd. (100%)

investment ratio

(8) Relationship between

Capital ties

The Company has a 100% share.

the listed company and

Personal

Three officers and an employee of the

this company

relations

Company concurrently serve as officers of this

company.

Business

There is no business relationship to be noted

relationship

with this company.

(9)

Financial Position and

FY2020 (Ended March 31, 2021)

results of operations*2

Net assets

0 thousand MYR (

0 million yen

)

Total assets

74,241 thousand MYR (1,976 million yen*3)

Net Sales

0 thousand MYR (

0 million yen

)

Operating profit

0 thousand MYR (

0 million yen

)

Ordinary profit

0 thousand MYR (

0 million yen

)

Current net income

0 thousand MYR (

0 million yen

)

*1 The Japanese yen conversion rate of the capital is based on the MUFG Bank (Malaysia) reference rate (TTM) (1 MYR = 26.50 yen) at the time of establishment on March 9, 2021 and the Mizuho Bank conversion rate (1 MYR = 26.36 yen) applied at the time of payment on July 21, 2021.

*2 Japanese yen amounts are rounded down to the nearest million yen and Malaysian Ringgit amounts are rounded down to the nearest thousand MYR.

*3 The Japanese yen conversion rate of the capital is based on the MUFG Bank (Malaysia) reference rate (TTM) (1 MYR = 26.62 yen) on March 31, 2021

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3. Outline of the change in share capital and shareholding ratio

Share capital and shareholding ratio

Called-up share capital: 17,000 thousand MYR

before the transfer

(448 million yen*1, *2)

Shareholding ratio of the Company: 100%

Share capital and shareholding ratio

Called-up share capital: approx. 184,912 thousand MYR

after the transfer

(Approx. 5,551 million yen) *4

Shareholding ratio of the Company: 100%

*4 Capital injection will be made in three currencies: Japanese yen, US Dollar, and Malaysian Ringgit with the conversion rate at the time of registration, so the amount of investment may vary.

4. Date of transfer (date of registration) (provisional) February 18, 2022

6. Forecast

The impact of this transfer on the Company's consolidated business results for the fiscal year ending March 31, 2022 is expected to be minimal.

End

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Disclaimer

Menicon Co. Ltd. published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 07:15:10 UTC.